Despite slashed ad budgets and massive layoffs at ad agencies, it's a good time to be a freelance copywriter in a bad economy. The number of agency projects is down due to slowing ad spending but agencies are cutting back on the overhead of a full-time agency copywriter. That's where you, the freelance copywriter, come in.
1. Getting Started
If you're just starting your freelance copywriting career, you're not alone. Many people are turning to freelancing as a way to earn extra income. Even some copywriters who proudly claimed their desks at agencies are now exploring life as a freelance copywriter to get money rolling in while they're out of work. You must start your freelance copywriting career off right so you can beat out the competition for freelance work.
2. Finding Clients
If you're new to freelancing, agencies are a good source for work. Small businesses who might not be able to afford an agency retainer, even in a stable economy, are also valuable resources for freelance work.
On the other hand, let's say you're already a working freelancer. You contacted an agency last year but they said they didn't have work for you. Re-connect with them now to see if the situation at the agency has changed. Same goes for businesses you previously contacted. You already have an advantage over most freelancers just from your previous contact.
3. Creating Writing Samples
Writing samples that showcase your talent are key to getting clients. If you're just getting started, SPEC ADS are perfectly fine to use in your portfolio.
You won't get work as a freelancer just because you have pretty letterhead. You must have writing samples that demonstrate your ability to write clear, concise copy that's effective for clients.
4. Preparing Your Portfolio
Make sure your advertising portfolio is ready to go at all times. Even if you're freelancing outside of your local area and will never meet this client, chances are, he'll still want to view your portfolio. You can point the client to your website to view your samples, fax samples or Email them.
Just be sure you get your portfolio ready now. You don't want to hesitate when a client asks for your writing samples.
5. Leaving Your Rates Alone
Setting your rates as a freelancer is one of the most difficult challenges you'll face. In a tight economy, you may be tempted to lower your rates just to keep your current clients and attract new ones at the same time.
It doesn't matter if you charge a flat rate or an hourly rate, avoid the temptation of adjusting your rate schedule. Instead, offer specials or discounts. This way, you can accommodate a client's budget now but when the economy improves, you can end your sale without your clients wondering why you're suddenly sending them a new rate schedule with higher prices.
6. Always Have a Contract
Don't start working on a project until you have a signed contract in hand. Most clients pay on time but you never want to work without a contract that protects you, especially in a rough economy.
7. Dealing with Deadbeats
A bad economy is not an excuse for a client to skip out on paying you the money you've earned. Don't think your payment should be shoved to the bottom of the bill pile just because the client has suddenly decided paying you is optional.
You lived up to your end of the contract by writing the project. The client needs to live up to his part of the contract that says you will get paid.
Also remember that this situation is only temporary. If you've been laid off from an agency job, freelancing can be an excellent way to get your foot in the door when the economy picks back up.
If you have no intentions of leaving freelancing, you can use this time to pick up new clients and establish relationships. Many of these clients will continue to use your services when the economy improves.